A shortage of talent has left 19% of adults with stock market-related investments unable to find an IFA to manage their finances over the last decade, according to Investec Wealth & Investment.
A study carried out among both UK consumers and financial planners found almost half of planners (42%) believe the shortage of IFAs and wealth managers nationally is set to increase over the next five years. Over a third (39%) of the consumer respondents said the main reason they had been unable to access a financial planner in the last decade was they "did not think the ones they spoke to were very good". In close to a quarter (24%) of scenarios, the IFAs the consumer respondents approached were planning to either leave the industry or change jobs shortly, while many also found advis...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
